Cadre
Institutional-quality commercial real estate
Pros & Cons
Pros
- Goldman Sachs backed
- Institutional quality
- Secondary market
Cons
- $25K minimum
- Accredited only
- High carry fee
The Brief
MoneyMade Verdict
Cadre is one of the most credible institutional-grade commercial real estate platforms available to accredited investors, with a reported 18.2% historical IRR and $4.3 billion in total transaction volume — but its $25,000–$50,000 minimums, multi-year hold periods, and unguaranteed liquidity make it a poor fit for anyone who can't lock up capital for the long term.
Cadre is a New York-based commercial real estate investment platform founded in 2014 by Ryan Williams, Jared Kushner, and Josh Kushner — the last of whom is no longer actively involved. The company specializes in institutional-grade, value-added commercial real estate investments for accredited investors, with a focus on multifamily, industrial, office, and hospitality properties in gateway U.S. markets. As of 2024, Cadre has facilitated over $5 billion in cumulative real estate transaction volume and reports a historical net IRR of approximately 18.2% on exited deals — a track record that places it among the better-performing crowdfunded real estate platforms when measured against sophisticated institutional benchmarks.
The platform offers three main products: individual deal investments (single-property opportunities with minimums typically in the $25,000 to $50,000 range), diversified funds pooling capital across multiple properties, and a more recent Cadre Direct Access Fund. All investments are structured as LLC interests where investors own a pro-rata share of the underlying real estate, with hold periods typically running 3 to 7 years before disposition. Cadre charges a 1.5% annual management fee plus 20% performance fees on returns above a preferred return hurdle — fee structures that are in line with institutional private equity but meaningfully higher than platforms like Fundrise or Arrived Homes. Exits occur when the underlying property is sold; there is no guaranteed secondary market, though Cadre has occasionally offered secondary trading opportunities to enable partial exits before full deal maturity.
Target Projection
If the 10–18% target is achieved every year, net of fees
Target low · 10%
$22,610
Target mid · 14%
$32,473
Target high · 18%
$46,053
The Cost of Fees
Gross ending value
$37,072
Net ending value
$32,473
Total fees paid
−$4,599
Head-to-Head
| Platform | Min | Target Return | Annual Fee | Liquidity | Accredited |
|---|---|---|---|---|---|
| $25K | 10–18% | 1.5% AUM + 10% carry | 3–7 years | Yes | |
| $5K | 8–12% | 0.5% listing + 0.5% closing | 5+ years | No | |
| $5K | 6–12% | 1–1.5% AUM | Quarterly / 3–7 years | No | |
| — | 3–5% dividend yield | Brokerage commission | Daily (NYSE) | No | |
| — | 8–12% | Management fee | 5+ years | No |
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